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Directions: You will use an online calculator to compute the accumulated balance for both Mia Saver and Ima Spender. Write your results in the
Directions: You will use an online calculator to compute the accumulated balance for both Mia Saver and Ima Spender. Write your results in the table and answer the questions about your results. Go to https://www.dinkytown.net/java/compound-savings-calculator.html In this second scenario, assume Mia saves $200/month from age 25 to age 65. Assume Ima saves half as much, so $100/month also from age 25 to age 65. Mia Saver Rate of Ima Spender Return Total Accumulated Age invested to Balance Age Total invested to Accumulated Balance date date Age $0.00 8% Age $0.00 25 25 Age $24,000.00 8% Age $12000.00 35 35 Age $48,000.00 8% Age $24,000.00 45 45 Age $72,000.00 8% Age $36,000.00 55 55 Age $96,000.00 8% Age $48,000.00 65 65 4. How do these results compare with the accumulated balances in the first example? 5. What made the difference in the two assignments? 6. What can you conclude about investing for retirement?
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